RE:RE:RE:RE:RE:RE:RE:We are going to the poll soon …..Hey PACKER__One of My ANNOYANCES is the Darn
GROSS UP of Dividend Income
For EVERY $1000 of Dividends ANY of US Get__Our NET INCOME Goes UP Under
the GROSS UP__To $1380__THEN the OAS CLAW BACK Uses NET INCOME to
Determine HOW MUCH OAS is CLAWED BACK
INTEREST or CAPITAL GAINS Incomes Do NOT Have ANY Darn GROSS UP
But
My MAIN ANNOYANCE I Have ALWAYS HAD is the HISTORY of the GROSS
UP Implementation__
IT Was ALL DUE to Pierre Trudeau When He TOOK the
WALK in the Snow and RETIRED Politics.
Upon Being QUESTIONED by MEDIA With REGARD to His INTENTIONS__
He
REVELLED in Looking STRAIGHT INTO the Cameras__STATING That OF
COURSE
He WAS GOING to TAKE ""EVERY PENNY"" THIS Then CAUGHT FIRE and Became a HOT POLITICAL BALL__Basically
FORCING the Federal Government to DO SOMETHING About Millionaires
Getting the OAS__HENCE the BIRTH of the OAS CLAW BACK
packerdriver wrote:
Come on, Red Deer....it annoys you that you make too much money?????
To get all of OAS clawed back you have to make more than 150k a year!!!
https://ativa.com/oas-clawback-calculator/
OAS is not funded by anything, it's just money the government pays out to people who lived in Canada for a long time...Seniors spending represents 15-17% of the federal budget every year. That includes GIS for seniors who can't even make more than about 18k a year in combined OAS CPP income. a very low bar....It's not a PENSION. You've done very well...congrats...SORRY, present day taxpayers don't owe you a cent every month/year